I took my SOXX short off, that is. The gain was 8% on an index ETF and that is good enough as the chart hammers at the 200 day average. It was bought not long ago per this Trade Log entry…
5.16.19: Buy oversold TGT on drop to perceived support for some domestic Retail exposure. Buy ‘value’ stock GILD as it turns around with all the speed and dexterity of a battleship. Sell short SOXX on what looks like a daily chart bear flag.
A bear flag it was and now a Hammer it is. It sure doesn’t mean the decline has to stop here. It just means that it would decline without me.
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